[1]The Federal Mortgage bank was established to manage fnds accruable from the National Housing Fund (NHF) and backed by law.
[2]All workers in Public and private sector contribute 2.5% of their salaries to this fund.
[3] The fund is supposed to provide laons up to 15 Million naira to citizens to build houses.
[4] If well managed, the size of FMB asset should be close to that of Pension commission which was established just recently. Read more here: http://www.fmbn.gov.ng
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How many employed people in Nigeria have benefited from this fund since 24 years of its existence?
Isnt it right for the laws establishing the NHF and FMB be amended to meet the housing deficits in the country particularly those employed in the formal sectors of the economy
Shouldn't government make arrangement to channel these funds to infrastructural development projects just as Fashola have nursed the idea that Pension funds be invested in infrastructural developments projects with low risk and guaranteed returns
What is the fate of Employed people who contribute 2.5% of their salaries to this fund and retire without benefiting at all from the NHF?
Will our 109 senators be able to make appropriate legislation to address these concerns??

NAiralanders, over to you !

I don't know anyone who has benefitted from the NHF, I don't even know if deductions are made from my monthly pay for this. I am interested in knowing more about how this works for employees in private sector.
Please educate me

I'm also interested.

It's a way of making life harder for the citizens. Perhaps people managing it are the only ones benefiting from it.

Even where the houses sef?

I have applied since 2009. No response till now. The people I know that got it are based in Abuja and applied for Abuja houses.

But that was a while back.